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Westpac Recommend ACGB Apr '24/Nov '24 Flatteners

AUSSIE BONDS

Westpac have noted that "given our forecast that the YCC will shift further out the curve, we have been waiting for an opportunity to back our view. We think that time is now, especially given the significant underperformance of ACGB Nov '24, which is around 20-25bp above the 3yr target, we are recommending buying ACGB Nov '24 at current levels, spread against ACGB April '24, target 5bp, stop at 30bps."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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